Crude futures fall to 5-week lows ahead of U.S. supply data

SAN FRANCISCO (MarketWatch) -- March crude fell to a low of $62.70 a barrel in early New York trading, its lowest intraday level since Jan. 3. Prices closed Tuesday at their lowest since Dec. 30. The contract was last down 26 cents at $62.83. The Energy Department and American Petroleum Institute will release separate updates on U.S. supplies, with Fimat expecting to see a climb of 1.1 million in crude stocks for the week ended Feb. 3. March natural gas was up 1.2 cents at $7.87 per million British thermal units after falling 1.7% on Tuesday.

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